Key regions: Canada, United Kingdom, United States, China, Europe
The Cold & Cough Remedies (Pharmacies) market in Russia has been experiencing significant growth in recent years.
Customer preferences: Russian consumers have shown a growing demand for cold and cough remedies, primarily driven by the high prevalence of respiratory infections in the country. The harsh Russian winters and the crowded living conditions in urban areas contribute to the spread of cold and cough viruses, leading to a higher need for remedies. Additionally, the increasing awareness about the importance of maintaining a healthy lifestyle and preventing illness has also influenced customer preferences in the market.
Trends in the market: One of the key trends in the Cold & Cough Remedies (Pharmacies) market in Russia is the shift towards natural and herbal remedies. Consumers are becoming more conscious about the potential side effects of synthetic medications and are seeking alternative options. This trend is in line with the global movement towards natural and organic products. As a result, there has been a rise in the demand for herbal teas, essential oils, and homeopathic remedies in the market. Another notable trend is the increasing popularity of over-the-counter (OTC) medications. Russian consumers are increasingly opting for self-medication, especially for common ailments like cold and cough. This trend is driven by the convenience and affordability of OTC medications, as well as the ease of access to pharmacies across the country. Pharmacies are playing a crucial role in meeting the growing demand for OTC cold and cough remedies.
Local special circumstances: Russia has a unique healthcare system, with a significant reliance on pharmacies for primary healthcare services. Pharmacies in Russia are not only retail outlets for medications but also serve as healthcare centers where consumers can seek advice from pharmacists. This close interaction between pharmacists and consumers creates opportunities for pharmacies to recommend and promote cold and cough remedies. Additionally, the government has implemented regulations to ensure the accessibility and affordability of medications, further driving the demand for cold and cough remedies in pharmacies.
Underlying macroeconomic factors: The steady economic growth in Russia has contributed to the development of the Cold & Cough Remedies (Pharmacies) market. As disposable incomes rise, consumers have more purchasing power to spend on healthcare products. The increasing urbanization and the expansion of retail chains have also made cold and cough remedies more accessible to consumers across the country. Furthermore, the government's focus on improving healthcare infrastructure and promoting preventive healthcare measures has created a favorable environment for the growth of the market. In conclusion, the Cold & Cough Remedies (Pharmacies) market in Russia is experiencing growth due to the high prevalence of respiratory infections, the shift towards natural and herbal remedies, the increasing popularity of OTC medications, the unique role of pharmacies in the healthcare system, and the underlying macroeconomic factors. These trends and circumstances are driving the demand for cold and cough remedies in pharmacies and shaping the market's development in Russia.
Data coverage:
The data encompasses B2C enterprises. Figures are based on offline and online spending by consumers, including VAT. Not included are B2B and B2G sales, or other pharmaceutical sales through hospitals or retail stores such as supermarkets.Modeling approach:
Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market market. As a basis for evaluating markets, we use industry associations, third-party studies and reports and survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per country, consumer healthcare spending, GDP and internet penetration. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods. For forecasting digital trends such as the online-pharmacy sales share we use exponential trend smoothing and the s-curve method. The main drivers are healthcare expenditure per country and consumer healthcare spending.Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. GCS data is reweighted for representativeness.
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